Skip to main content

Zillow: Recovery Added $11.3T to Housing Value in the 2010s

Phil Hall
Jan 17, 2020
Photo credit: Getty Images/Nuthawut Somsuk

The 2010s were a boom time for the housing market, according to a new Zillow data analysis that determined the total value of every U.S. residence is $33.6 trillion, with $11.3 trillion being added since the market began to regain its footing in 2010.
 
Zillow added that roughly 14 percent of the decade’s gain resulted from new housing stock entering the market. However, the gains were lopsided: California’s $7.1 trillion accounted for 21.2 percent of the country's total housing value, which was more than the next four highest-valued states combined: New York ($2.7 trillion), Florida ($2 trillion), Texas ($2 trillion) and Washington ($1.1 trillion). In comparison North Dakota and Wyoming have the smallest housing market shares at $66 billion each.
 
"In 2010, Americans were grappling with falling home values, unsold subdivisions, and sky-high foreclosure rates, while policymakers were working to stimulate demand," said Zillow Economist Jeff Tucker. "A decade later, we're facing a very different set of challenges, as a persistent shortage of new homes and starter homes has kept home prices rising out of reach for many would-be first-time home buyers. More and more of the nation's wealth is now tied up in our homes, as workers in some of the world's most economically productive cities, such as San Francisco, San Jose and Seattle, have raced to get a foothold in homeownership there, driving up prices with their fierce competition. Most of this growth has come from rising prices for the same homes, not from actually building more homes, a troubling trend when it comes to affordability."

 
Published
Jan 17, 2020
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021
New American Funding Hires Regional Manager

Mark Tribuna will lead effort to expand company's partnership with affordable nonprofit builders in mid-Pacific region

Industry News
Oct 21, 2021
Rocket Pro Announces Initiatives To Boost Brokers

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Tech
Oct 19, 2021
Synergy One Lending Increases Its Capital By $50M

San Diego-based Synergy One Lending Inc. completed a $50 million corporate note financing with a consortium of institutional investors.

Industry News
Oct 19, 2021
TransUnion Sees Untapped Growth Opportunity For The Mortgage Industry

A study conducted by TransUnion, which explores the creditworthiness of low-to-moderate income consumers, revealed that the segment represents a $300 billion growth opportunity for the mortgage industry.

Analysis and Data
Oct 19, 2021